Bobcats Re-Sign Gerald Henderson

JULY 30TH, 11:01am: The Bobcats have officially re-signed Henderson, the team announced today in a press release.

JULY 26TH, 8:04pm: Henderson and the Bobcats have reached an agreement, tweets Rick Bonnell of the Charlotte Observer.

7:27pm: The Bobcats and restricted free agent Gerald Henderson are putting the finishing touches on a new three-year, $18MM deal, reports Adrian Wojnarowski of Yahoo! Sports. The swingman and agent Arn Tellem turned down Charlotte's offer of $7MM per year to get the team to agree to a third-year player option, according to Wojnarowski.

The two sides are expected to formalize the deal early next week, Wojnarowski adds. The move has appeared likely over the past couple of weeks, though Henderson reportedly drew "heavy interest" from the Wolves before they acquired Kevin Martin. Negotiations between Henderson's camp and the Bobcats seemed to stall a couple of weeks ago, with the sides far apart on financial terms. While Wojnarowski reported then that the Bobcats were seeking sign-and-trade scenarios that would send Henderson elsewhere, his story today identifies the 25-year-old as the franchise's top priority.

Henderson was reportedly seeking a salary of about $8MM a year, but it looks like he'll settle for about $2MM less. The move will leave the Bobcats with less than $1MM worth of cap space, unless they backload Henderson's contract. Charlotte committed its room exception to Josh McRoberts, so re-signing Henderson is probably the club's final major offseason move.

The former 12th overall pick averaged 15.5 points per game last season, up only slightly from his 15.1 PPG in 2011/12. The career 27.2% three-point shooter showed improvement from behind the arc, nailing 33% of his three-point looks in 2012/13, and his 16.4 PER was also a career high by a wide margin.

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